UBS Sucks Customer Reviews and Feedback
UBS Group AG is a Swiss multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centers as the largest Swiss banking institution in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking secrecy. The bank's large positions in the Americas, EMEA, and Asia Pacific markets make it a systemically important financial institution within the broader economy of Europe.
According to Wikipedia The banking privacy policies of UBS have led to numerous controversies and disagreements with foreign governments
- The French supreme court, Cour de Cassation, ruled against UBS in their 2014 appeal of tax evasion. In 2007, Bradley Birkenfeld, a Geneva-based employee who worked in the bank's North American wealth management business, claimed that UBS's dealings with American clients violated an agreement between the bank and the U.S. Internal Revenue Service. He subsequently complained to UBS compliance officials about the bank's "unfair and deceptive business practices", which included sponsoring events like yacht races and art festivals in the United States to attract wealthy people as potential clients. UBS was charged by the U.S. Federal Bureau of Investigation and ordered it to cease providing cross-border private banking services to US-domiciled clients through its non-US regulated units as of July 2008.
- In 2012, the German government saw to it that UBS Deutschland AG came under investigation by prosecutors in Mannheim, Germany, after a tax probe revealed suspicious funds transfers from Germany to Switzerland allegedly facilitated by the bank's Frankfurt office. UBS Deutschland's Frankfurt office was raided by tax investigators in May 2012, and over 100,000 computer files and records were seized for evidence. The bank, which claims it is cooperating with the investigators, said that "an internal investigation into the specific allegations has not identified any evidence of misbehavior by UBS Deutschland AG."
- In 2014, the French government launched an investigation into UBS France's alleged abetting of tax evasion by French taxpayers. The investigation estimated the amount of tax income lost to UBS-controlled offshore accounts at €600 billion. In July 2014, the bank was required to post a bond of 1.1 billion euros, which UBS complied with while making multiple appeals in the French court system, finally losing its appeal at the Cour de Cassation, France's highest court. That same year, UBS accused the French government of engaging in a "highly politicized process" in its investigation of the bank.
Jerry says"When I needed a release related to a mortgage that I had repaid about a year ago in order to get to closing, I was told that their policy was that they had one week to respond. The best they could do was give me the phone number to their outside attorney (who of course would charge me). The customer service is poor and I can say that as this is the second mortgage I have had with them. If you can get a rate somewhere else that matches, go for it."
Erik de Vos says"When trying to open an account online, my girlfriend was told she needed to visit a branch in-person. When she arrived at the UBS branch, she was told there was a "problem with her address". She lives - however - at the same address as me and I was able to open a bank account with no problems ... it's just a simple apartment on a normal street in Zurich. She also had a bank account before, albeit at Post Finance. She was then refused service and when she asked why this was the case, she was told that she would not be getting an explanation. I should mention that her skin is brown, something that UBS famously does not appreciate in its customers."
CHRISTINA OESTERBERG ANDERSEN says"Very manual, and not helpful when it comes to resolving matters that are not run-of-the-mill. Slow customer service on the phone."
Booyakashaa says"Extremely complicated and HORRIBLE customer support."
Disappointed customer says"Extremely poor services in comparaison with the fees customers have to pay. Also, their internet banking is a Middle Age technology...
I would suggest you go for an online bank rather than dealing with these thiefs"
michiboo13 says"I just got off the phone with their customer service here in Zürich, Switzerland asking questions politely in order for me to understand more about my cancellation situation. To my surprise the guy seemed like he has no time, no care and no understanding and definitely no patience and made me even feel unimportant at all. He seemed tired and maybe the customer before irritated him off or he was not having a good day, I don't know but I definitely know that I started in a good mood and just wanted to understand my situation. Customer service is there to help the clients understand better and to guide clients inside their process not to belittle us. For me, this is not professional and got me in a really bad mood. If your customer service representative is in a bad mood, please don't let him answer the phone. The mood will just end up in a domino effect."
Michael Stratos says"Absolute worst customer service I've ever come across. Recently merged with Paine Webber....can't get through to either financial institution. If you value your time....stay as far away from these 2 as possible!!!"
Søren Mouritsen says"UBS is a bank you cannot trust.
When UBS took over Nordea Private Bank Luxemburg recently they promised us dearly that they would never terminate our 15 year mortgage in France. But they lied and of course did anyway.
This is not the first time we have experienced that this bank cannot be trusted and that they service is very poor and amateurish. But privately and in business.
We are therefore removing all private banking business with this Bank. We know that quite a few of our friends are doing and have already done the same. And I encourage you to do it as well."
eve says"Not sure we should call UBS a bank. I have been working in investment banks and hedge funds for 10+ years before, dealing with clients, trading, regulation, compliance...
This is my first review ever on any company. But I feel that I should warn all young entrepreneurs looking to open a business account in Switzerland, to avoid UBS (or Credit Suisse who litterally stripped my mother from her life long savings, through ridiculous ETF investments and 0 communication!).
- they re happy to pay fees
- they re happy to have their account blocked for any transfer that doesn't fit a very strict profile (e.g. large corporation to a employee, swiss company to swiss company, etc..)
- they re happy to waste time and resources in excessive admin papers (most not even required by law).
Everything usually starts very well when you open an account at UBS. But at the slightest suspicion (e.g. no activity), they will drown you in paper and fees before forcing you out. This is what happened to me years ago because I was not resident in Switzerland for a few years and my company had strictly no activity.
I am very happy where I am now, writing research in statistics for medium-sized companies in Europe with the support of two other banks (one reasonable, one new), accepting payments for the work I do in every main currency, with very cheap transaction fees, earning my salary, despite my UBS experience."
Ciaran Burkett says"I have messaged my client advisor (Mr Gaetani) from your Basel branch multiple times to follow up on the progress of a contract that HE GOT MY WIFE AND I TO SIGN way back in APRIL 2019!!
Is this what you call customer service? The ball is now in your court!
#poorservice #badexperience #badservice #poorcustomerservice #falsepromises"
Bill Douthwaite says"This is my second review on UBS. If I could have given UBS no stars I would have done so..
They clearly handled the shipment badly (in December) even though every box said fragile.
I raised a complaint in early January. With no response I asked them to escalate it, which they said that had done. One month, yes one whole month afterwards, they still had not even offered a response.
I have chased them again, but no response.
Clearly not only do UBS have a problem with deliveries but they appear not to CARE that they have the problem or unhappy customers
Sundip Bhundia says"UNITED BANK OF SWINDLERS (UBS)
the height of hypocrisy! pretend that butter wouldn't melt in their mouths yet year after year the bank is involved in fraud and corruption. Should have lost its banking licence years ago along with Credit Suisse. Rotten to the core yet they somehow think that all this is their normal hard working clients fault. What a joke."
Andre1962 says"the worse bank in the world. without ethic, always involved in scandals of corruption, money laundering.
UBS clients are stupid they have no memory. They continue to work with these crooks.
Closing my account a few years ago after several scandals of corruption and money laundering, I had 85 chf on my account, they stole me this amount saying that it covered the cost of closing the account. S. of bitc................"
CZITA71 says"dishonest company, without ethic. Certainly the worst bank in the world. Involved in many ilegal activities. Each 2 or 3 yrs they have problems with justice, money laundering law,
this bank still has problems with the law. They carry out illegal activities and swindle customers by stealing their money. They are involved in all corruption scandals. Just read the media to realize it
Jacob Haron says"I only received email says there was deliver attempt but was not at home.
You should send notification before you come. Otherwise I have to stay home the whole month waiting"
Renato Sop says"1.75% Rip off for CHF Transactions in Foreign Countries or Online. Don't use their Credir cards"
Mail Mail says"Service is mostly working - if you visit a Bank they multiple Areas where they do only one thing. No signs would tell you in which corner you will get which service. Just one way of making the customer not feeling welcome (UBS Winterthur, CH). EBanking is ok if you don't need info that is older than a year in which case you won't get access to that info. You can call them though and just 30min later you will talk to a real person.
My main pain point is that they find endless ways to delay Apple Pay. Claiming they would have to implement so much technical stuff bla bla. Basically they just have to sign a deal with apple. But hey that drags on and on for years now while supporting virtually any other payment Service that tries to keep up with Apple Pay. It's simply ridiculous."
Kate Hill says"Average customer service. High bank account management fees for private customers"
Michael budin says"Good luck..."
Axel B says"Use onesource.ubs.com for stock option grants. Confusing layout. Difficult to find information, e.g. no single overview of your transactions. Not clear what is sellable. Password rules irritating (e.g. max 15 char length, no double characters, must start with letter). Should at most have two stars, but my experience with other providers is similar."